金吾财讯 | 国泰君安发布医药行业春季策略，现阶段和未来较长一段时间创新药都是增量政策支持最为明确的方向，继续看好优质创新药企和已现成果的的转型企业。集采将继续提速扩面，不改变原有产业趋势&投资逻辑，继续看好从集采、监管节奏影响后有望逐步恢复的器械龙头。该行指，Q1市场对业绩正在形成新的预期，幅度需要在即将到来的财报季确认。业绩下调的很大一部分原因是通缩下的各类计提、行业整顿影响节奏等。除创新药保持高景气，2025年有望在按新预期复苏&持续好转的包括：化学制剂、医疗设备、高值耗材、CXO/API，流通等。
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